Coinbase will buy Skew. Details of the deal
Today it became known that one of the largest digital exchanges, the Coinbase platform, is considering acquiring the Skew platform. Such an alliance promises many prospects for both sides. That is why below we will tell you everything that should be understood about the beginning of cooperation between a large exchange and a starting project. So, without further ado, let’s get started.
What is Skew
Coinbase needs no introduction. After all, every user of the cryptoindustry, at least superficially interested in the implementation of digital savings, has certainly heard about this platform. This exchange is distinguished by its own loyalty to users and incredible volumes. Every minute, multimillion-dollar transactions are carried out within its framework. And thus, the company earns status, resources for further development. Which allow her to calmly choose new partners. The cooperation scheme is quite simple. A large enterprise, in our case, Coinbase, finds a lesser known but interesting market player. That is Skew. Then a proposal is put forward that no novice developer will refuse.
Skew’s intellectual property becomes the property of Coinbase. And the exchange gets the opportunity to make full use of this data provider. Recall that Skew is mainly engaged in the prediction and analysis of the value of digital assets of a complex order. We’re talking about futures, swaptions and other complex securities. Obviously, such functionality will be useful for a digital exchange. This innovation may well become the very trump card that will distinguish Coinbase from its competitors. Moreover, the project is already working successfully and only needs support. Skew functionality will be gradually integrated into the digital trading platform. Thus, at one point, we will see the complete merger of these two projects.
Of course, transactions of such a large order take place behind closed doors and without any witnesses. This sale of intellectual property was also no exception. The exact amount has not yet been specified. Nevertheless, it is reliably known that the final confirmation of the start of the partnership will take place in the second quarter of this year. There are no more exact dates yet. So we just have to guess the size of the Skew sale. And based on the current market value of Coinbase, we can assume that we are talking about multi-million dollar amounts. Indeed, at the end of March, the cost of this platform was measured at $ 233 billion. Moreover, most of the funds come from institutional investors. Who boldly invest in the project and are confident that they will soon take their money with interest.
It’s amazing how, before our very eyes, Coinbase has grown from a small project into one of the leaders of the digital market. Namely, the segment of foreign exchange transactions. This is a unique journey that the company has followed with phenomenal success.
Coinbase’s current approach is a lot like Apple, but from the blockchain world. After all, the apple company also produces less and less independent technologies. Much more often the organization buys out the rights to already created developments. And, refining the ready-made options, it presents something new. This is truly a working approach that is being practiced by many organizations. Including Coinbase. It is obvious that the company will not be satisfied with what has already been achieved and will continue to search for interesting partnerships. To follow the latest news, stay tuned. We publish only high-quality, interesting material. Thanks for attention. Good luck!